The QSE’s market capitalisation expanded 1.58% to QR782.47bn yesterday.
By Santhosh V Perumal/Business Reporter
The Qatar Stock Exchange yesterday reached a new eight-year high but failed to break the 13,000 resistance level. Capitalisation gained another QR12bn.
Foreign institutions’ increased net buying support lifted the 20-stock Qatar Index (based on price data) by 0.17% to 12,961.56 points, amid decline in volumes and losers outnumbering gainers.
The index that tracks Shariah-principled stocks was, however, seen to lose its sheen compared to other indices in the bourse, which is up 24.88% year-to-date, making it the second best performer globally.
Trading volumes was mainly skewed towards real estate, banking, telecom and transport equities.
The 20-stock Total Return Index gained 0.17% to 19,328.48 points and the All Share Index (with wider constituents) by 0.14% to 3,332.69 while the Al Rayan Islamic Index fell 0.29% to 4,280.07 points.
All the three indices factored in dividend income as well.
Insurance stocks gained 1.81%, followed by banks and financial services (0.59%), transport (0.44%) and consumer goods (0.2%); whereas realty fell 1.31%, telecom (0.64%) and industrials (0.38%).
Major movers included QNB, Industries Qatar, Ezdan, Doha Bank, Commercial Bank, International Islamic, Milaha, Qatar Insurance and Al Khaleej Takaful.
However, Vodafone Qatar, Aamal Company, Nakilat, United Development Company, Mazaya Qatar, Barwa, Nakilat, Qatar Islamic Bank, al khaliji, Masraf Al Rayan, Gulf International Services and Qatari Investors Group bucked the trend.
Market capitalisation expanded 1.58% to QR782.47bn. Large, micro and mid-cap equities gained 1.03%, 0.83% and 0.76% respectively; even as small caps melted 2.99%.
Foreign institutions’ net buying surged to QR106.29mn compared to QR90.29mn the previous day.
Non-Qatari individual investors’ net buying marginally rose to QR28.85mn against QR28.78mn on Tuesday.
Qatari retail investors’ net selling rose to QR44.49mn compared to QR36.87mn the previous day.
Domestic institutions’ net profit-booking strengthened to QR85.35mn against QR82.01mn on Tuesday.
Total trading volume shrank 37% to 35.75mn stocks, value by 23% to QR1.45bn and transactions by 23% to 14,409.
The consumer goods sector’s trading volume plummeted 57% to 3.19mn equities, value by 6% to QR197.69mn and deals by 23% to 1,774.
The transport sector saw its trading volume plunge 53% to 4.17mn shares, value by 45% to QR123.35mn and transactions by 39% to 1,231.
There was a 44% shrinkage in the telecom sector’s trading volume to 4.37mn stocks, 34% in value to QR106.5mn and 38% in deals to 1,112.
The industrials sector’s trading volume tanked 40% to 3.52mn equities, value by 31% to QR202.8mn and transactions by 32% to 2,889.
The banks and financial services sector reported a 31% decline in trading volume to 9.47mn shares, 15% in value to QR465.56mn and 18% in deals to 3,971.
The real estate sector’s trading volume slipped 17% to 10.01mn stocks and value by 20% to QR309.89mn, while transactions were up 3% to 2,861.
The market witnessed an 8% fall in the insurance sector’s trading volume to 1.03mn equities, 17% in value to QR48.25mn and 23% in deals to 571.
In the debt market, there was no trading of treasury bills and government bonds.